Companies like Tata Motors, MG Motor, Mahindra & Mahindra, Hyundai and Kia have already launched EVs. Maruti may launch the car in 2024-25
Maruti will bring its electric car
If you are planning to take an electric vehicle ie EV car, then have some patience. May the fruit of this wait be sweeter. Because then you are not going to be numbered, but you are going to get many options. Now another giant has joined the line of launching EV car. The country’s largest carmaker Maruti Suzuki has announced the launch of EV car.
The car will be launched in 2024-25
Not only the announcement but also the time of launch has been told. Yes, the company has expressed hope of launching the car in the financial year 2024-25. This information was given by the company’s President RC Bhargava on the questions of the shareholders in the general meeting. During this it was told that the initial stage EV will be launched in the upper price band. The company will manufacture between 400,000 and 500,000 CNG cars in 2022-23 as per its green energy programme, which is much higher than the approximately 250,000 CNG cars in 2021-22.
The EV is going to be produced at the Suzuki plant in Gujarat. The company hopes that the customers will like the EV car a lot. The car will be designed with great care. At the same time, the indigenous campaign in EVs will also get a boost with the installation of a battery plant. Prime Minister Narendra Modi on Sunday laid the foundation of Suzuki’s EV Battery Plant in Hansalpur, Gujarat.
At present, the company’s focus is on the hybrid car.
Here, in the last few years, the company had shelved its EV plans as it was concerned about the high cost of acquisition. Along with this, the lack of charging station was also becoming a hindrance. Meanwhile, the company focused on alternative technologies such as CNG and hybrid. Let us inform that companies like Tata Motors, MG Motor, Mahindra & Mahindra, Hyundai and Kia have already launched EVs.
How is the company’s performance
The market share of Maruti Suzuki has fallen from a peak of 51.21 percent in 2018-19 to 43.38 percent in 2021-22. Its net profit was Rs 4,389 crore in 2020-21, which declined by 11.6 percent to Rs 3,879 crore in FY22. From 2019-20, the company’s sales have declined by 16 per cent and industry-wide sales by 18 per cent. This drop was due to increase in price when the company was switching from BS IV to BS VI. After this, in 2020-21, Kovid-19 gave a setback. Over the years, semiconductor shortages and the Ukraine-Russia war have added to the industry’s woes. Due to this, the prices of the car increased significantly. However, now the situation is better than before. Sales and production have increased. According to the company, the market share will increase when more and more vehicles are available in the Sport Utility Vehicle (SUV) segment. Recently a new Alto has been launched. A lot of upgradation has happened this year.
Last year there was some delay due to Kovid-19. Now many new models are being launched. This will help in increasing the market share. The President of the company said that the company is looking at the sector of compressed biomethane gas fuel as it has huge potential for the country. He said the company’s contribution to the global business of Japanese-origin Suzuki Motor Corporation will exceed 60 per cent in this financial year.